The New York City, HomeFirst Down Payment Assistant Program
$100,000
About the Program
The HomeFirst Down Payment Assistance Program provides qualified first-time homebuyers with up to $100,000 toward the down payment or closing costs on a 1-4 family home, a condominium, or a cooperative in one of the five boroughs of New York City.
Program Eligibility
A prospective homebuyer must:
- Be a first-time homebuyer
- Complete a homebuyer education course taught by an HPD-approved counseling agency
- Work with an HPD approved Housing Counseling Agency to complete a 2025 HomeFirst Loan Application (Required documentation can be found here).
- Have their own savings to contribute to the down payment or closing costs
- Meet program income eligibility requirements
- The borrower must provide a minimum downpayment or contract deposit of at least 3% of the total purchase price sourced from their own funds, towards the home purchase.
- Purchase a 1-4 unit family home, a condominium, or a cooperative for owner-occupancy in one of the five boroughs of New York City
- Pass a Housing Quality Standards (HQS) inspection before purchase
- Live in the home for at least:
- 10 years if the loan received is less than or equal to $40,000
- 15 years if the loan is greater than $40,000
- For City-funded loans, owner occupancy period is 15 years regardless of loan amount.
- Have a maximum household income up to 120% AMI:
| Family Size | Maximum Household Income up to 120% AMI |
| -------------------- | --------------------------------------- |
| 1 – Person Household | $136,080 |
| 2 – Person Household | $155,520 |
| 3 – Person Household | $174,960 |
| 4 – Person Household | $194,400 |
| 5 – Person Household | $210,000 |
| 6 – Person Household | $225,600 |
| 7 – Person Household | $241,080 |
| 8 – Person Household | $256,680 |
Buyers receiving a down payment assistance loan less than or equal to $40,000 must reside in the home purchased for at least 10 years. Buyers receiving loan greater than $40,000 must reside in the home purchased at least 15 years. For City-funded loans, owner occupancy period is 15 years regardless of loan amount.
Effective Date: 6/01/24; Source: U.S. Department of Housing and Urban Development
HOME Purchase Price Limits for Existing Homes*
Applicant must purchase an existing home at or below 95% of the HUD purchase price limits:
| County | 1 - Unit | 2 - Unit | 3 - Unit | 4 - Unit | |
| -------- | -------- | -------- | ---------- | ------------ | ------------------------------------------------------------------------------------------------------------------ |
| Bronx | $636,000 | $814,000 | $985,000 | $1,220,000 | |
| Kings | $712,000 | $911,000 | $1,103,000 | $1,366,000 | |
| New York | $636,000 | $814,000 | $985,000 | $1,220,000 | |
| Queens | $684,000 | $876,000 | $1,060,000 | $1,313,000 | |
| Richmond | $636,000 | $814,000 | $985,000 | $1,220,000 | The limits above are effective as of September 1, 2024, and will remain in effect until HUD issues new limits. |
If applicants wish to purchase a newly built or rehabilitated home, please visit this link for eligible purchase price limits.
Process
Community-based counseling agencies certified by HUD and approved by HPD to participate in the HomeFirst program will promote the program through newsletters, flyers, and seminars; distribute program guidelines; and enroll consumers in Homebuyer Education classes. The counseling agencies will also certify income eligibility for the Down Payment Assistance Program, counsel consumers about program requirements, certify completion of Homebuyer Education classes, and refer consumers to participating lenders for pre-approval. Contact any one of the following HPD-approved counseling agencies.
Contact a counseling agency today!
Please reach out to one of the Counseling Agencies in your borough from the list below to start the application process.
Counseling Agencies
Click a borough, or press the enter key on a borough, to reveal the counseling agencies in that borough.
Bronx:
The Bronx NHS CDC, Inc.
1451 East Gun Hill Road 2nd Fl.
Bronx, NY 10469
Tel: 718-881-1180
Languages: English and Spanish
NHSNYC-TWU
2475 Westchester Avenue
Bronx NY 10461
Tel: 718-502-3300
Languages: English and Spanish
Brooklyn
MHANY Management Inc.
470 Vanderbilt Avenue
Brooklyn, NY 11238
Tel: 718-246-8080
Languages: English and Spanish
NHS of Brooklyn CDC, Inc.
2806 Church Avenue
Brooklyn, NY 11226
Tel: 718-469-4679
Languages: English
IMPACCT Brooklyn
1000 Dean Street, Ste 420
Brooklyn, NY 11238
Tel: 718-522-2613 x315
Languages: English
Neighborhood Housing Services of Brooklyn Bedford Stuyvesant CDC
506 MacDonough Street, 1St Fl
Brooklyn, NY 11233
Tel: 718-919-2100
Languages: English and Spanish
Neighbors Helping Neighbors
621 DeGraw Street
Brooklyn, NY 11217
Tel: 718-237-2017 x151
Languages: English and Spanish
Manhattan
Abyssinian Development Corporation
Abyssinian Towers
HELP Homeownership Program
50 West 131st Street, Lower Level
New York, NY 10037
Tel: 646-442-6545
Languages: English and Spanish
Harlem Congregations for Community Improvement
256 West 153rd Street
New York, NY 10039
Tel: 212-281-4887 x231
Languages: English and Spanish
NHS of NYC Homeownership Center
306 West 37th Street 11th Fl.
New York, NY, 10018
Tel: 718-732-8100
Languages: English and Spanish
Asian Americans For Equality
2 Allen Street, 7th Fl.
New York, NY 10002
Tel: 212-964-2288
Languages: English, Mandarin, Cantonese
Housing Partnership Development Corporation
253 West 35th Street, 3rd Fl.
New York, NY 10001
Tel: 646-217-3392
Language: English
Queens
Asian Americans For Equality
133-29 41st Avenue, Suite 201
Flushing, NY 11355
Tel: 718-961-0888
Languages: English, Mandarin, Cantonese
Margert Community Corporation
325 Beach 37th Street
Far Rockaway, NY 11691
Tel: 718-471-3724
Languages: English and Spanish
NHS of Queens CDC, Inc.
60-20 Woodside Avenue 2nd Fl.
Woodside, NY 11377
Tel: 718-457-1017
Languages: English and Spanish
Chhaya CDC
37-43 77th Street, 2nd Fl.
Jackson Heights, NY 11372
Tel: 718-478-3848 x12
Languages: Bangla/Bengali, English, Hindi, and Urdu
NHS of Jamaica
89-70 162nd Street
Jamaica, NY 11432
Tel: 718-291-7400
Languages: English
Staten Island
Neighborhood for A Sustainable Future Inc.
192 Corson Avenue
Staten Island, NY 10301
Tel: 718-313-4890
Languages: English and Spanish
Northfield Community LDC
160 Heberton Avenue
Staten Island, NY 10302
Tel: 718-442-7351
Languages: English and Spanish
Upon the successful completion of the Homebuyer Education class, prospective home buyers will receive a certificate that verifies their eligibility for the forgivable loan of up to $100,000 towards the down payment or closing costs on a new home. After receiving the certificate, prospective homebuyers begin the path to homeownership.
Step 1: Present the certificate of eligibility to a participating lender for pre-approval on a mortgage loan.
Step 2: After receiving pre-approval from a participating lender, consult a reputable real estate professional to identify an affordable home.
Step 4: Hire a real estate lawyer.
Step 5: Negotiate a contract of sale with the seller.
The homebuyer education counselors will be available to assist program participants throughout the home buying process. Program participants are encouraged to take advantage of this resource.
Program Administration
The NYC Department of Housing Preservation and Development (NYCHPD) administers the HomeFirst Down Payment Assistance Program. Neighborhood Housing Services of New York City (NHSNYC) and The Center for New York City Neighborhoods (CNYCN) service the program on HPD's behalf. As Loan Program Servicers both NHSNYC and CNYCN work with homebuyers and their counseling agency representative to:
- Request from the homebuyer copies of:
- Home buyer education certificate
- HomeFirst Certificate of Eligibility
- Bank pre-approval
- Sales contract
- Receive the HomeFirst application
- Review signed contract
- Verify eligibility of property based on location and type of property
- Verify income of mortgage applicants
- Verify eligibility of HomeFirst applicants
- Review pre-approval and verify lender is a participating lender
- Reserve funds for closing
- Receive copy of lender commitment letter
- Receive confirmation of closing date
- Release funds for closing
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